Strathcona Resources Ltd. (TSE:SCR) Receives C$35.50 Consensus Target Price from Brokerages

Shares of Strathcona Resources Ltd. (TSE:SCR) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$35.50.

Several analysts recently commented on SCR shares. Jefferies Financial Group raised their target price on Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. TD Securities cut their price objective on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Scotiabank raised shares of Strathcona Resources to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th.

Insider Activity at Strathcona Resources

In related news, Senior Officer Dale George Babiak purchased 6,410 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Also, Senior Officer Allan Grabas acquired 8,802 shares of the business’s stock in a transaction on Monday, March 10th. The shares were bought at an average price of C$27.47 per share, for a total transaction of C$241,790.94. Company insiders own 91.34% of the company’s stock.

Strathcona Resources Price Performance

TSE SCR opened at C$25.07 on Monday. The company has a 50-day moving average price of C$27.42 and a two-hundred day moving average price of C$28.60. The stock has a market cap of C$5.36 billion and a price-to-earnings ratio of 14.46. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. Strathcona Resources has a 52 week low of C$22.75 and a 52 week high of C$37.69.

Strathcona Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a $0.26 dividend. This is an increase from Strathcona Resources’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Friday, March 21st. Strathcona Resources’s payout ratio is presently 57.67%.

Strathcona Resources Company Profile

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.